The 4 Methods of Generating Income

109 followers

Updated 6 years ago

First off What I Learned Joining Wealthy Affiliate

Just recently joining wealthy affiliate I realized more than ever that the hum-drum common sense of go to school, get a secure job, and live happily ever after was a fallacy. Sure you can most definitely find an employee job that fits your needs but it will never make you financially free. You will be a person with a ball and chain varying in density and size( the differences in salary or paychecks.) What one must realize is that the mentality of doing what everyone else is simply because it's the most apparent or the most encouraged is exactly the blueprint to being average and hence forth making an average income. In order to break free of this hive ball and chain approach to making an income is to embrace a different paradigm for what it means to make money as I shall discuss in subsequent writings.

Cash flow Over Salary

Have you ever thought to yourself how do the rich get rich? Maybe you came to the conclusion it was right timing, a hardworking persona, the right connections, while some or all of that might be true it ultimately came down to the concept of cash flow. Now what is cash flow you may ask well cash flow involves the fluid passage of cash as a means of income. Instead of breaking your back for 50-60 years why not work for 10-20 years or less with money still flowing in and out of your pockets with little of your own intervention.

The 4 Methods of Making Money

Cash flow and salary can be surmised in the following ways:

Employed
Self-Employed
Business
Invest

An employee is what you would imagine the typical 9-5 office job everyone hates or perhaps the more lucrative CEO, doctor, architect,ect. The point is it is an exchange of time for money. You are exchanging labor for a set return a paycheck so to speak. Which in hindsight isn't how you build a fortune or have financial independence as you are relying on an employer to decide your livelihood. If this is the path for you(right now if you need cash soon) can search for jobs by using sites like glassdoor and monster or simply keep an eye out for job openings in your community whenever you go out.

Someone who is self-employed essentially work for themselves they are not tied to a boss only the client they choose to work for to accomplish a certain task. A freelancer does exactly this so you can offer your services to anyone who wishes it be it writing an article, designing a logo, or animating a scene. If this is the path for you fiverr would be a great start to this type of career line.

The business model focuses on putting in an initial amount of work to then scale to a point of a passive income. One must lay the foundation before a process is automated so although you might have to put forth more effort depending on the type of business you are running online or offline it is ultimately more rewarding but is dependent on the success of your business. There are a multitude of different businesses to start be it e-commerce, affiliate marketing,and even a small retail store with the necessary start up capital but online is the future and at Wealthy Affiliate provides excellent place to get started with!

All these methods require some sort of investment be it time or money but when it comes to simply investing what primarily comes to mind is puitting money into a entity hoping to make money off its future increased value. Basically acquiring assets to which should pay off if you made the right investment. Some ways to invest include the stock market, real estate, and buying/selling domains. This is an excellent way to make money along with the other methods as it allows you to create asset based cash flow without starting a business and only requires knowledge and money to get started.

The Takeaway

It all comes down to what you think is right if you don't have the drive if you aren't willing to put forth the effort and grow as a person along with your business you won't succeed in being financially independent period. Which is why I will strive to look on at my fellow WA members with pride and say I made it, this what I have achieved. Now its up to you to go beyond and reach your goals and surpass whatever barrier or limitation you thought was holding you back.

Salutations

As this is my first post I feel inclined to provide this information about me.

My name is Christopher Rodriguez but am known personally by others by my middle name Henry. Born in Arizona raised in Miami, Florida. Considered lazy academically but proficient in writing.

I wish anyone who by chance reads this good fortune in their endeavor...

Good luck!

By: Christopher Henry Rodriguez